Public Finances: Borrowing Costs

Johanna Baxter Excerpts

Thursday 9th January 2025 Commons Chamber

[Darren Jones]

At the autumn Budget, the Chancellor invested in frontline public services, because we recognise that people rely on them, but also because functioning public services are an important route to growth in the economy. If people are sick and cannot get to work, they need to be able to see a doctor in a timely fashion, so that they can get back to work. That is the priority of this Government, as well as investing in modernising our public services, so that they are fit for the future.

[Johanna Baxter (Paisley and Renfrewshire South) (Lab)]

My constituents suffered real hardship as a result of the disastrous mini-Budget pursued by the Conservative party. Does the Chief Secretary to the Treasury agree that in order to improve living standards for my constituents, we must stick to our fiscal rules, maintain fiscal discipline and invest in our public services?

[Darren Jones]

I very much agree. That is why fiscal stability and economic responsibility are at the heart of this Labour Government and the Chancellor’s agenda. Members on the Opposition Benches may want to pay attention to that.

Fiscal Rules

Johanna Baxter Excerpts

Monday 28th October 2024 Commons Chamber

[Darren Jones]

The hon. Gentleman is trying to be clever, but he is inviting me to speculate on the Budget. He will have to wait until Wednesday.

[Johanna Baxter (Paisley and Renfrewshire South) (Lab)]

Does the Minister agree that sustainable growth cannot come from short-termism and that the falls in public sector investment planned under the last Government would have exacerbated, rather than ameliorated, the economic chaos they got us into?

[Darren Jones]

My hon. Friend is right. We have a choice at this Budget either to continue with the failed policies of the previous Government or to change them. The British people will not be surprised that our decision is to change them, reflecting on the fact that the cut in investment under the previous Government has led to poor productivity in public services and a lack of growth in the economy. That serves nobody.

Public Spending: Inheritance

Johanna Baxter Excerpts

Monday 29th July 2024 Commons Chamber

[Rachel Reeves]

I think the hon. Lady for that question. There are a couple of things we are committed to do. First, pension credit and housing benefit are due to be amalgamated. The previous Government put that back; we will bring that forward. We know that take-up of pension credit will increase when it is merged with housing benefit. That will make an impact in ensuring that people get the money they are entitled to. However, we have also committed, as elderly people’s charities have asked, to central Government working with local government to better identify people who are entitled to pension credit, but are not claiming it today. We want to make sure that everyone who is entitled to pension credit gets it, and with it the associated winter fuel payment.

[Johanna Baxter (Paisley and Renfrewshire South) (Lab)]

Does my right hon. Friend agree that one of the key failures of the Conservative Government over the past 14 years was their failure to grow the economy, and that that lack of growth meant they simply did not have the money to do the things that they none the less committed to voters in this country to do? That is why we should take no lessons on trust and credibility from the Conservative party.

[Rachel Reeves]

If our economy had grown at just the average rate for OECD economies over the past 14 years, it would today be worth £140 billion more. That would have been worth £5,000 for every family in Britain and would have meant an additional £58 billion for our public services, without increasing tax by a single penny. That shows how important economic growth is, which is why getting our economy growing is the No. 1 mission of this Government.